Canadian Natural Resources (TSE:CNQ) Upgraded at Raymond James Financial

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) was upgraded by equities researchers at Raymond James Financial from a “hold” rating to a “moderate buy” rating in a research report issued on Thursday,Zacks.com reports.

A number of other research firms also recently commented on CNQ. Royal Bank Of Canada increased their target price on Canadian Natural Resources from C$65.00 to C$80.00 and gave the stock an “outperform” rating in a report on Wednesday, April 8th. ATB Cormark Capital Markets increased their price target on Canadian Natural Resources from C$56.00 to C$65.00 and gave the stock an “outperform” rating in a research report on Friday, March 6th. JPMorgan Chase & Co. increased their price target on Canadian Natural Resources from C$48.00 to C$70.00 in a research report on Tuesday, April 7th. TD increased their price target on Canadian Natural Resources from C$64.00 to C$72.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. Finally, National Bank Financial increased their price target on Canadian Natural Resources from C$59.00 to C$90.00 and gave the stock a “sector perform” rating in a research report on Tuesday, March 31st. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Canadian Natural Resources has a consensus rating of “Moderate Buy” and an average target price of C$63.60.

Canadian Natural Resources Trading Down 2.1%

TSE:CNQ opened at C$60.96 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.95 and a debt-to-equity ratio of 44.46. The business’s 50 day moving average is C$64.03 and its two-hundred day moving average is C$53.41. Canadian Natural Resources has a 52 week low of C$40.62 and a 52 week high of C$70.99. The company has a market cap of C$127.21 billion, a PE ratio of 11.81, a P/E/G ratio of 0.53 and a beta of 0.48.

Canadian Natural Resources (TSE:CNQ) (NYSE:CNQ) last released its earnings results on Thursday, May 7th. The company reported C$1.17 EPS for the quarter. Canadian Natural Resources had a return on equity of 25.98% and a net margin of 26.06%.The company had revenue of C$10.81 billion for the quarter. On average, analysts predict that Canadian Natural Resources will post 3.833989 EPS for the current year.

Insider Buying and Selling

In related news, Director Gordon D. Giffin sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 24th. The stock was sold at an average price of C$68.01, for a total value of C$1,700,250.00. Following the sale, the director directly owned 171,210 shares in the company, valued at C$11,643,992.10. This trade represents a 12.74% decrease in their position. 4.26% of the stock is currently owned by corporate insiders.

About Canadian Natural Resources

Canadian Natural Resources is one of the largest oil and natural gas producers in western Canada, supplemented by operations in the North Sea and Offshore Africa. The company’s portfolio includes light and medium oil, heavy oil, bitumen, synthetic oil, natural gas liquids, and natural gas. Production averaged 1.16 million barrels of oil equivalent per day in 2020, and the company estimates that it holds over 11.5 billion boe of proven and probable crude oil and natural gas reserves.